With the advent of
newer technologies and their further development, electronic devices are
gaining more traction. The testing equipment market is experiencing a
noticeable growth, and a subsequent rise in usage of advanced measurement tools,
with an increase in number of radio frequency and digital components in
electronic devices. Oscilloscopes market has a wide range of end-user
industries, owing to versatile usage of oscilloscope. An oscilloscope was a
time-domain measurement tool at early stages, but modern oscilloscopes have
been evolved to calculate frequency-domain measurements, to validate and debug various
signals from many wireless communication systems. Thus, with boosting
communication sector, the oscilloscopes market is also witnessing an upsurge. Resultantly,
the oscilloscope market rested at a revenue of $2 billion by the end of 2018,
and set to observe a growth with a CAGR of 4.27%, during the forecast period 2019-2025.

As per the reports of
the International Trade Centre (ITC), the global trade value of oscilloscopes,
spectrum analyzers and other apparatus and instruments for checking or
measuring electrical quantities, excluding meters of heading recorded $26.66
billion in 2018. The trade value experienced a growth of 10% year on year. Hence,
it can be concluded that a part of this host trade value is attributable to the
oscilloscope market growth.

Spurring Oscilloscope
Market Revenue in North America

In 2018, North America
accounted for the largest oscilloscope market share of 35.28% of the global market.
The U.S., Canada, Mexico, and other countries are constantly contributing to R&D
of technologies, which is boosting the adoption of oscilloscopes in various
industries such as telecommunication, engineering, and others. These end-users
are thus, contributing in growth of the oscilloscope market, and further
expansion in the upcoming years.

The telecommunication
industry is booming significantly, owing to rising R&D activities in the
sector. As per the 2019 annual wireless industry survey of Certified Threat
Intelligence Analyst (CTIA), 82% more mobile data was used in 2018, compared to
2017. Furthermore, since the deployment of 4G in 2010, the telecommunication
industry has made over $253 billion capital investments. 5G launch is underway,
and the industry reported an increase of more than 25,000 sites in 2018, from
2017. These
statistics are supporting the unprecedented growth of the telecommunication
industry. Oscilloscopes are extensively used by engineers in the
telecommunication field, to extract various parameters, statistics, and
histograms through its own signal analysis software. Thus, with the growth of
the telecommunication industry, the oscilloscope market vendors will witness favorable
opportunities in the upcoming years.

·Advancement in Smart Home Technology will Drive
the Oscilloscope Market growth in North America –

Increasing human population is becoming immensely reliant on various kinds of technologies, which is causing an incessant
depletion of natural resources. Thus, smart technologies are taking over to
conserve environment without affecting the smooth functioning of daily lives.
This has brought in the implementation of smart homes, which is using Internet
of Things (IoT) technology to utilize automation and simplification of the home
environment. Global Smart Homes Market registered a revenue of approximately $70 billion in 2018, where North America held a market share of 25%-28%
of the global market. According to International Housewares Associations
analysis, North American smart home industry will reach around $40 billion by
2020.[3] Many
electronic and electrical engineers involve in construction and after service
of smart homes, completely rely on various digital storage oscilloscopes to
design different equipment, and measure electric resistance including faults in
cable connectors, transmission cables, and micro strips on a circuit board. Hence,
with growing smart home industry, new avenues will be opened for oscilloscope
market vendors in the next years.

Oscilloscope Market:
Key Application

The key application of
oscilloscope is the automotive industry. Apart from medicine,
telecommunication, science, and engineering, oscilloscopes are extensively used
in the automotive industry, where the specialized automotive oscilloscope, also
known as engine analyzer or motor tester is used for tracing and correcting
faults in primary and secondary ignitions, solenoids, sensors, actuators, and
others. The automotive industry is expanding constantly, with high number of vehicle
productions across the globe. According to the reports of the International
Organization of Motor Vehicle Manufacturers (OICA), the automotive industry
experienced sales worth $97m in 2017, which includes both commercial and
passenger vehicle. Moreover,
self-driven cars and electric cars are estimated to contribute largely in the
automotive industry growth, in the upcoming years. These factors will create a
positive impact on the oscilloscope market, as the automotive industry uses
oscilloscopes in a large amount. The implementation of oscilloscope in the automotive market is expected to rise at a CAGR of 5.85% through to 2025, yielding high results for oscilloscope market
vendors, during the forecast period 2019-2025.

Oscilloscope Market
Growth Drivers –

·Application of Oscilloscopes in Healthcare
Industry to Enhance Diagnostic–

As per reports by the
National Center for Biotechnology Information (NCBI), approximately, one in
three adults in the world suffer from multiple chronic conditions. Due
to unhealthy diet, and sedentary lifestyles that are constantly increasing the
threat of chronic diseases. Moreover, rising geriatric population demands
increasing diagnostic methods. Oscilloscopes have a variety of applications in
the medical industry as well as nursing, in a form of monitoring heartbeats, display
of patients' brain waves, and others for diagnostic purposes. With the growing concern for life without diseases, the healthcare industry is going to expand in the upcoming years, supporting the oscilloscope market growth.

·PC Based Oscilloscopes Gaining Attraction for Being Compact and Inexpensive–

The most sophisticated form of oscilloscopes
is used in computers. PC-based oscilloscopes or USB oscilloscopes are gaining
popularity, as they are effective, inexpensive and compact. According to the reports of Bureau of Labor
Statistics, employment in the field of computer and information technology is
expected to grow 13%, during 2016-2026, demanding to add about 557,100 new jobs
in this sector. This rising amount of employment in the computer sector is going to increase the usage of oscilloscopes due to its attractive features resulting in the growth of the oscilloscope market.

About IndustryARC: IndustryARC is a research and consulting
firm that publishes more than 500 reports annually, in various industries such
as Agriculture, Automotive, Automation & Instrumentation, Chemicals and
Materials, Energy and Power, Electronics, Food and Beverages, Information
Technology, and Life sciences and Healthcare.